00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Bending Spoon's shares closed nearly 40% higher in their U.S. market debut on Wednesday
00:07as investors backed the Italian firm's model of buying and revamping struggling technology
00:13companies, according to Reuters. Shares opened at $31 and closed at $40.50,
00:19giving the Milan-based company a market value of $25.7 billion.
00:24Bending Spoon's and selling shareholders raised $1.68 billion by selling 58 million shares
00:31at $29 each, above the marketed range of $26 to $28.
00:37The debut adds to signs of a broadening recovery in the U.S. IPO market.
00:42The company has grown through more than 50 acquisitions and does not sell acquired businesses.
00:48CEO Luca Ferrari said Bending Spoon's has identified more than 1,000 potential acquisition
00:54targets.
00:54For all things money, visit Benzinga.com.
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